Formula 1
GPWC pushing ahead with plans
The breakaway Grand Prix World Championship (GPWC) is adamant that it is pushing ahead with its plans for a rival series in 2008 and reportedly intends to offer a much larger financial deal to the teams than Bernie Ecclestone currently does. The ...
Edited: Jan 6, 2005, 1:16 AM
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The breakaway Grand Prix World Championship (GPWC) is adamant that it is pushing ahead with its plans for a rival series in 2008 and reportedly intends to offer a much larger financial deal to the teams than Bernie Ecclestone currently does. The teams will apparently be shown outlines for the new series prior to the start of the 2005 season.
"We are progressing into the key areas that the new series needs to have in place to start on time," said a GPWC spokesman. "We will present them to the team principals before the start of the season for their input and approval."
According to the UK's Times newspaper, the GPWC will share 80% of the commercial revenue between the teams -- currently Ecclestone pays 23%. There does not appear to be confirmation of the percentage that the teams would receive, although Ferrari president Luca di Montezemolo recently suggested 80% was the aim.
"We are not here to criticise Bernie Ecclestone because he has done an unbelievable job with Formula One, but it doesn't work as well as it could or should," the GPWC spokesman commented.
"There are a lot of things that are right, but there are increasingly a lot of things that are not right. We have to move quickly because, realistically, things need to be in place during 2005 if we are to be ready in time."
Some think that there will be a deal agreed upon within the current structure of F1 -- such as the previous Memorandum of Understanding (which failed) -- that will put an end to the rival series.
However, George Taylor, the commercial director of GPWC, dismissed speculation that that the breakaway threat was only a ploy to put pressure on Ecclestone, and said the series is already reality.
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